Archive for Government

China to expand its e-invoicing(e-billing) system NATIONWIDE!

December 14, 2015  |  Adoption, Asia, Electronic Invoicing, Government

China is going to extend its electronic invoice system to nationwide coverage in 2016 to better regulate taxation of online businesses. That is what the Economic Information Daily has reported. The e-invoices will serve as an equivalent to paper ones that provide proof of transactions and taxation.

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Ecuador E-Invoicing Requirements Move Process Offline

Due to complaints that online government approval of e-invoices slowed down shipments and supply chain processes, Ecuador revered its approval model – now providing a 24-hour buffer for companies to submit e-invoices. Here’s what companies operating in Ecuador need to know.

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Edicom connects its B2B2G e-invoicing solution to the Swiss public sector

This new agreement reinforces the EDICOM Public Administrations HUB. Through it, users are guaranteed connectivity with public agencies worldwide. This makes it easier for multinationals to adapt to this increasingly widespread global system.

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PEPPOL made mandatory for Swedish central government agencies as of 2018

ESV has adopted the regulations for e-procurement in Swedish central government agencies. The mayor change is a requirement that by November 2018 all government agencies shall be able to use the PEPPOL network for their ordering and invoicing processes. The regulation issued by ESV explicitely states that central government agencies shall have the capability to use the PEPPOL network and be registered as recipients for different PEPPOL BIS messages in a Service Metadata Publisher (SMP). This is an important step to increase adoption of PEPPOL in Sweden and it will facilitate on-boarding of suppliers to government.

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E-invoicing in Spain – an update on the implementation

By the beginning of year 2015, there were still four Autonomous Communities that did not comply with all the requirements of this law. Either they were not yet connected to the General State Administration (FACe) or to other connectors.

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Brazil 2016 SPED Requirements: Block K (Bloco K) Adds Complex Inventory and Production Reports

Not only do companies need to update their cost accounting practices – many of which currently lack the detailed information needed – they also have to ensure their reports and processes adhere to each variation in local requirements.

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The rise of business-to-government compliance: Insights from PricewaterhouseCoopers

September 22, 2015  |  Electronic Invoicing, Government, Latin America

The big picture? Improved visibility into all financial transactions and increased automation help companies pave the way to the Holy Grail of cost savings and risk mitigation. The LATAM B2G e-invoicing mandates are helping to speed up this.

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European Commission: Despite measures European VAT has not improved

September 4, 2015  |  Compliance, Europe, Government

Based on VAT collection figures from 2013, the overall difference between the expected VAT revenue and the amount actually collected (the so-called "VAT Gap") did not improve on 2012. While 15 Member States including Latvia, Malta and Slovakia saw an improvement in their figures, 11 Member States such as Estonia and Poland saw deterioration.
The total amount of VAT lost across the EU is estimated at €168 billion, according to the report. This equates to 15.2% of revenue loss due to fraud and evasion, tax avoidance, bankruptcies, financial insolvencies and miscalculation in 26 Member States.

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United States mandates all-electronic B2G invoicing in 2018

United States mandates all-electronic B2G invoicing in 2018

To address cash flow issues for businesses, particularly small businesses, the US Administration already took steps to facilitate accelerated payments to small businesses and small business subcontractors.
In the opinion of the ‘Executive Office of the President’ electronic invoicing can further these goals while also reducing administrative burden and costs to taxpayers. And therefore it is decided that in 2018 there will be all-electronic invoicing.

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Major changes to indirect tax legislation are coming to Latin America [background]

The pace of LATAM legislative changes is faster than ever as governments aim to expand the tax base and collect every penny, peso or reais they can. Current mandates are changed before companies can fully grasp the implications!

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